On 11 November 2026, BlockBeats reported that a pre-IPO perpetual tied to Anthropic on Trade.xyz had moved above $103. The flash, published at 10:18:36 (UTC+8), quoted the contract at $103.72 and said it was up more than 6% in 24 hours.
That quote was set against the upper end of the IPO range the company had most recently announced, $70 to $78 a share. BlockBeats described $103.72 as about a 33% premium to the $78 ceiling, corresponding to an implied listing valuation of $1.36 trillion and a fully diluted valuation of $1.87 trillion.
The contract is quoted in dollars. As described in the flash, it references one Class A common share of Anthropic, PBC, using the Nasdaq ticker ANT, and trades in a pre-listing market. BlockBeats said the price reflects a market judgment of the expected share price, not a completed offering. Trade.xyz said that after Anthropic officially lists, the contract is expected to convert into a standard XYZ perpetual. The flash presented that conversion as prospective.
The same item summarized earlier reporting, with a narrower attribution than the headline price. According to the Financial Times, citing people familiar with the matter, Anthropic’s IPO roadshow had drawn strong subscription interest; the underwriting team led by Goldman Sachs and Morgan Stanley was considering an issue price above $78 a share; and the fully diluted valuation might reach $1.5 trillion or higher within days. In that earlier-reporting passage, the flash also said Anthropic was expected to list the following week, relative to 11 November 2026, and that the final issue price had not been determined.
The figures describe different things. The announced range still ended at $78. The $103.72 print, and the $1.36 trillion and $1.87 trillion valuations tied to it, came from a pre-listing perpetual, not from a priced IPO. A possible issue price above $78, and a fully diluted valuation of $1.5 trillion or higher, remained a consideration attributed to people familiar with the matter through the Financial Times. BlockBeats said the final price was not set. Nothing in the flash shows those implied valuations being confirmed by the company or its underwriters.
Original article: BlockBeats flash, 11 November 2026, 10:18:36 (UTC+8).
